India VIX, commonly referred to the gauge of volatility in the Indian stock markets, surged 5 per cent in intra-day deals on Tuesday, May 07 to hit the 17.56 mark – a 52-week high. On April 23, India VIX had dropped 20 per cent to 10.2 levels, which analysts attributed to the then prevailing positive sentiment in the domestic markets. Since then, India VIX has climbed steadily.